Scheduled production at non-integrated cell makers is expected to weaken, and module prices are anticipated to decline

Solar cell

Price

The current price for high-efficiency PERC 182 solar cells (23.2% efficiency and above) is 0.29-0.30 yuan/W; PERC 210 solar cells are priced around 0.285-0.29 yuan/W; Topcon 182 solar cells (24.7% efficiency and above) are priced around 0.28-0.29 yuan/W; Topcon 210RN solar cells are priced at 0.29 yuan/W; Topcon 210 solar cells are priced at 0.29 yuan/W. The current prices remain stable.

Production

In August, the production of solar cells by some integrated manufacturers continued to rise. The production of leading specialized cell makers slightly increased, but due to insufficient orders, there is significant pressure on shipments. Most non-integrated cell makers are expected to reduce production.

Inventory

In August, the demand for externally purchased solar cells was lower than in July, leading to increased inventory pressure.

PV Modules

Prices

In the current PV module market, the mainstream transaction prices for PERC 182mm modules are 0.7-0.76 yuan/W, for PERC 210mm modules are 0.71-0.77 yuan/W, for N-type 182mm modules are 0.74-0.8 yuan/W, and for N-type 210mm modules are 0.75-0.81 yuan/W. The mainstream transaction prices for modules remain stable, but low-price modules still show a downward trend, with recent new lows in the bid prices for N-type modules.

Production

It is expected that domestic PV module production in August will slightly increase MoM, reaching the range of 48-49GW, with the proportion of N-type module production further rising. However, due to overall tepid demand, the production of various producers have diverged. As the peak delivery season in H2 approaches, some producers have significantly increased their operating rates due to the rise in orders on hand. Most producers, considering the volume of orders on hand and inventory pressure, have chosen to maintain stable or slightly reduced operating rates.

Inventory

The days of raw material inventories for PV modules are at one month or more. Given that procurement demand in August has not shown a significant increase, it is expected to maintain this level in August.

PV film

Price:

PV-grade EVA/POE:

The current domestic trading price of PV-grade EVA is about 9,400 yuan/mt, with market sentiment expecting a price increase. The price of POE PV-grade material temporarily remains at $2,100-$2,150/mt for C4 and $2,200-$2,250/mt for C8.

PV film:

The current mainstream price for 420g transparent EVA film is 5.46-5.67 yuan/sqm, 420g white EVA film is 5.99-6.36 yuan/sqm, 380g EPE film is 6.46-6.65 yuan/sqm, and 380g POE film is 8.74-8.93 yuan/sqm. Prices remained stable compared to the end of July.

Production

In August, PV module production saw a slight increase, leading to a minor rise in film production. Meanwhile, the current inventory of PV-grade EVA is low, and the planned production for August has increased.

Inventory

After effective inventory clearance in the previous period, the inventory of particle manufacturers is relatively low. Additionally, downstream film manufacturers have sufficient EVA stock, and recent market trading volume for EVA has also declined.

Inverter

Price

This week, inverter prices are as follows: 20kW at 0.12-0.16 yuan/W, 50kW at 0.11-0.15 yuan/W, 110kW at 0.1-0.14 yuan/W, and 320kW at 0.09-0.11 yuan/W. Inverter prices remain stable.

Supply and Demand

The supply side is stable and sufficient, with good demand for residential and large power models. Emerging markets in Southeast Asia and the Middle East continue to drive shipment momentum, and companies are developing targeted products for these new markets.

PV glass

Prices

3.2mm single-layer coated: 3.2mm single-layer coated PV glass is quoted at 23.0-24.0 yuan/sqm, prices remain stable.

3.2mm double-layer coated: 3.2mm double-layer coated PV glass is quoted at 24.0-25.0 yuan/sqm, prices remain stable.

2.0mm single-layer coated: 2.0mm single-layer coated PV glass is quoted at 13.5-14.5 yuan/sqm, prices remain stable.

2.0mm double-layer coated: 2.0mm double-layer coated PV glass is quoted at 14.5-15.5 yuan/sqm, prices remain stable.

Production

This month, a 500 mt/day furnace in Hebei was cold repaired, and another furnace is expected to undergo cold repair in August, leading to a continued decline in supply.

Inventory

With the finalisation of new prices, domestic module producers made appropriate purchases this week, leading to a slight decrease in inventory.